Aerogel Market : Global Demand Analysis & Opportunity Outlook 2021

Aerogel is kind of mesoporous solid froth obtained by replacement of the fluid element of the gel with a gas. Aerogel is the world’s lightest solid and it has low thermal conductivity element makes it an absolute building lining material.

Global aerogels market was estimated at USD 312.5 Million in 2015 and is anticipated to reach USD 1,896.2 Million in 2021, with a compound annual growth rate (CAGR) of 13.2% over the forecasted year 2015 to 2021.

Market Size and Forecast

In 2015, North America aerogel market accounted for more than 60% of the global revenue share in 2015 and it is anticipated that it will grow at a healthy rate owing to growing demand from the automotive, aerospace and marine industries.

Europe aerogel market is projected to grow at a compound annual growth rate (CAGR) of 31.5% from 2015-2022 the market is anticipated raise owing to Severe guidelines for environment safety and building and construction strategies.

Asia Pacific aerogel market is estimate to be the most profitable geographical market. The market is expected to grow at a compound annual growth rate (CAGR) of 38.2% from 2015 to 2021.

Market Segmentation

By Application

On the basis of by application the global aerogel market is segmented into:

Oil & gas

Marine & aerospace

Performance coatings

LVHS

Day-lighting

Automotive

Construction

By Product Types

On the basis of by product types the global aerogel market is segmented into:

Silica

Polymer

Carbon

By Forms

On the basis of by forms the global aerogel market is segmented into:

Monolith

Blanket

Article

Panel form

By Process

On the basis of by forms the global aerogel market is segmented into:

Virgin processed

Fabricated

By Region

On the basis of by region the global aerogel market is segmented into:

North America

Latin America

Western And Eastern Europe

Asia-Pacific

Row (Rest Of World)

Growth Drivers and challenges

Intensifying demand from the end users of aerogel for instance oil & gas, automotive, marine and aerospace, etc. Increasing globalization leading to an escalation in investments and new players in the industry are the factors which drive the growth of global aerogel market in near future.

In addition to that some characteristics of aerogel such as high insulation, cheap and rich in availability of the raw material are certain factors driving the growth of global aerogel market over the forecasted period i.e. 2015-2021.

High production cost and high investment are the major factors which restraints the growth of global aerogel market in the upcoming years.